Fidelity Financial Review & Guidance
Overview Operating Environment Financial Review Guidance
The Nigerian economy sustained QoQ real GDP growth from Q4
2020. GDP grew by 3.98% in Q4 compared to 4.03% in Q3 2021
(Annual Real GDP was 3.40% in 2021 Vs. -1.92% in 2020).
Real GDP Growth
5.01%
4.03%
3.98%
0.11%
0.51%
Agriculture, Trade,
Information,
Telecommunication
and
Q2 '20
Q4 '20
Q2 '21
Q4'21
Financial Insurance etc. were the top drivers of GDP growth in
2021.
-3.62%
-6.10%
Headline Inflation Rate
Headline inflation increased to 15.6% in December 2021 from
15.4% in November 2021.
17.8
18.1
17.3
15.8
Rise in food inflation was driven largely by increases in prices of
bread, cereals, potatoes, yam, oil and fats, fruits.
Trading on Bonny Light in December 2021 closed at $76.3pb
while daily crude oil production in 2021 averaged 1.493 million
bpd compared to 1.312 million in 2020.
✰ Currently, Brent Crude is trading at $116.73 per barrel while Bonny
Light is trading at $110.1 per barrel spot price.
Dec-20
15.6
17.0
16.0
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Bonny Light ($ per barrel)
78.0
66.8
73,2
76.3
84.4
51.3
66.1
External reserves stood at $40.2bn at the end of Q4 2021,
compared to $36.8bn in Q3 2021.
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21 Oct-21
Dec-21
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